On average, listings lease in the $70's per square foot per year. The Downtown San Mateo submarket is going through a a boost in rates. In the last 3 months, the median rate went up $7 per sqft per year. That's a 10% rise in rent.
Compared to the rest of the Silicon Valley market, the Downtown San Mateo submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 35 listings have been listed, which means office spaces might be going fast. You'll want to be prepared to make an offer immediately. About 60% of the available space in the Downtown San Mateo are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 5,000 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are close to 3 floors. Most buildings in this market were built in 1968 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this market. Commute by taxi is the most popular way to get to work amongst Downtown San Mateo occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.